Changes in Hong Kong stocks | Meituan-W (03690) rose by nearly 6%, embodies an intelligent layout or enters a harvest period, AI narratives are expected to drive valuation repair

The Zhitong Finance App learned that Meituan-W (03690) rose by nearly 6%, with a cumulative increase of nearly 30% during the month. As of press release, it rose 5.08% to HK$87.9, with a turnover of HK$2,958 billion.

According to the news, recently, Meituan announced the official open source of all LongCat-2.0 model weights, inference engines and core technical documentation. This model is the first trillion-parameter model in the industry to complete the entire process of training and inference on a 50,000 card domestic computing power cluster. The total parameters are 1.6T, the pre-training data scale exceeds 30T tokens, and natively supports 1M ultra-long contexts. Citi said that Meituan's open source LongCat-2.0 is expected to further consolidate its leading position in the local lifestyle services market.

It is worth noting that Yushu Technology's IPO registration on the Science and Technology Innovation Board came into effect in early July. SPDB International released a research report saying that according to Yushu Technology's prospectus, Meituan is its largest external shareholder, holding a total of 9.65% of the shares. The bank pointed out that Meituan has invested in more than 10 companies in the field of physical intelligence. As humanoid robot racetracks usher in a wave of listings, in addition to investment benefits, companies can also use physical intelligence to empower existing businesses and reduce long-term contract execution costs. Furthermore, the launch of this big model may push the market to reprice the company.